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Not me, sir
Communications Minister A Raja has learnt it’s better to be safe than sorry. After the EGoM meeting on the 3G spectrum auction, Finance Minister Pranab Mukherjee was surrounded by journalists. He refused to make any comment and then turned towards Raja and said, “Nobody should talk to the press about this meeting.” Even before Mukherjee could finish, Raja waved his hands and said, “Sir, I am not saying anything. I am not saying anything.” A few days ago, Mukherjee had summoned Raja and told him not to talk to the press about the 3G issue and to ensure that no inter-ministerial communication related to the 3G auction was leaked from his office — letters from Mukherjee to Raja and vice versa have all been leaked to the press in recent weeks.

Commodity futures mart set for big changes
The commodity futures market, which has a turnover of over Rs 50 lakh crore, will see more changes and a deepening of the market with the entry of two new exchanges in the second half of 2009.

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TDP MLAs from Telangana walk out of joint action committee
Telugu Desam Party MLAs from Telangana region have decided to walk out of the newly-formed Telangana Political Joint Action Committee and carry out the agitation for a separate state on their own.
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International M&A deals to fall 56% in '09: OECD

Global mergers and acquisitions (M&A) are projected to fall 56 per cent in 2009 compared to last year, mainly on account of sharp declines in such activities in rich and emerging markets including India. - On the elusive energy trail - OECD wants India to ease FDI norms on banking, insurance - "India did not knock on our doors" - "Firms can mitigate IT skills shortage" - Akash Prakash: State of play">Akash Prakash: State of play - "Firms can mitigate IT skills shortage" The Organisation for Economic Cooperation and Development (OECD) today said the expected decline in M&A activities this year would be the "largest year-on-year decline since 1995". In its latest report, the grouping of 30 developed and developing nations, noted that international M&As are forecast to plunge 56 per cent this year in comparison with 2008. The estimate is based on an OECD analysis of data for international M&A activities up to November 26, 2009. According to the report, the projected decline is primarily due to a 60 per cent fall in value of cross-border M&A by firms based in the OECD area, to just $454 billion in 2009 from over $1 trillion last year. Moreover, there has been a steep drop in M&A activities into and from major emerging economies. "International M&A activity by firms based in Brazil, China, India, Indonesia, Russia, and South Africa fell by 62 per cent to $46 billion in 2009 from $121 billion in 2008," the OECD said. It added that such activities into these countries is anticipated to slide by almost 40 per cent to little over $80 billion in 2009 from just under $140 billion last year. M&A investments have been severely hit by the financial turmoil, which has resulted in tight credit flow. "Against the backdrop of a fragile global economy and sharp declines in international investment activity that have now spread to the emerging economies, the international investment policy community cannot afford to relax," OECD Secretary-General Angel Gurria said in a statement. Speaking at the OECD Global Forum on Investment in Paris, he noted that investment protectionism poses a grave risk to recovery by further reducing international investment flows. "...Latest international investment estimates suggest that total foreign direct investment into the 30 OECD countries will fall to $600 billion in 2009 from a 2008 total of $1.02 trillion," the statement added.


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